Rising interest rates and broader economic uncertainty have tightened liquidity for private activity bonds (PABs) in recent months, forcing some financings to be delayed. Despite those pressures, the sponsors of the Major Bridges Package One Project raised $1.8 billion of PABs, making use of bond insurance for some of the longer-dated notes.
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The European Commission (EC) plans to develop a dedicated guarantee mechanism for commercial banks' credit exposures to key wind industry suppliers in a bid to bolster the cost-challenged wind sector. Will it work?